1. The following table defines a project.
| Activity |
Immediate Predecessors |
Activity Time |
| A |
– |
5 days |
| B |
A |
9 days |
| C |
A |
8 days |
| D |
B |
6 days |
| E |
B, C |
4 days |
| F |
E |
4 days |
| G |
D, F |
3 days |
The minimum time required to complete the project is:
A)23 days
B)24 days
C)25 days
D)39 days
E) none of the above
2. Use the network given in the Word file in the Final Examination Session under Course Content. The early start time (ES) for job G is:
A) 13
B) 16
C) 21
D) 25
E) 38
3. Use the network given in the Word file in the Final Examination Session under Course Content. The late finish time (LF) for job C is
A) 7
B) 14
C) 16
D)21
E) 22
4. Use the network given in the Word file in the Final Examination Session under Course Content. The critical path is given by:
A) A ? B ? E ? H
B) A ? B ? F ? H
C) A ? B ? F ? G ? H
D) A ? C ? F ? H
E) A ? C ? F ? G ? H
5. Use the network given in the Word file in the Final Examination Session under Course Content.
The minimum time required to complete the project is:
A)23 days
B)25 days
C)29 days
D)31 days
E) none of the above
6. Use the network given in the Word file in the Final Examination Session under Course Content. The slack at activity D is:
A) 0
B) 5
C) 8
D) 13
E) None of the above
7. One part of a PERT project, installing equipment, will most likely be completed in 6 days. However, if there are no worker absences, the equipment can be installed in 3 days. If a members the work force happens to catch Bubonic Flu, this year’s disease, the installation will take 15 days. What is the expected time (te) for the equipment installation?
A) 3 days
B) 6 days
C) 7 days
D) 8 days
E) 15 days
8. A firm desires to control inventory levels so as to minimize the sum of holding and order costs. It costs the firm $50 to place an order. The firm estimates its inventory carrying costs at $2/unit/year. Weekly demand is 100 units, and there are 50 weeks in the work year. The item costs $10 per unit. The lead-time for the product is 3 weeks. Assume that there are 5 working days per week.
What quantity of items should the firm order each time so as to minimize total inventory costs, i.e., what is the EOQ?
A) 100
B) 224
C) 500
D) 1000
E) none of the above
9. Using the data of Question 8: If 400 units are ordered each time (i.e., EOQ = 400), then what will be thetotal annual holding cost?
A) $100
B) $200
C) $400
D) $800
E) $4000
10. Using the data of Question 8: If 200 units are ordered each time,how many orders will be placed in a year?
A) 2
B) 5
C) 10
D) 20
E) 25
11. Using the data of Question 8: If 200 units are ordered each time, then thetime between orders (in working days) is
A) 2
B) 5
C) 10
D) 20
E) 25
12. Using the data of Question 8: If 1000 are ordered each time, then what will be thetotal annual order cost?
A) $50
B) $100
C) $200
D) $250
E) $300
13. Use the data of Question 8 and assume no safety stock or service level requirement. In order not to run out of stock before the receipt of a new order, at what inventory level should the firm place an order? That is, what is the reorder point equal to?
A) 50
B) 160
C) 200
D) 300
E) 400
14. Given that unit cost = $25, annual carrying charge = 10%, annual demand = 7500 units and ordering cost = $15 per order.Assume that there are 50 weeks in the work year and 5 working days per week. The lead-time for the product is2weeks. The EOQ is:
A) 150 units
B) 212.13 units
C) 300 units
D) 500 units
E)none of the above
15. Lincoln Machine Tool Company maintains an inventory pool consisting of 10 items. Each of these items has a unique demand pattern and may require a different kind of inventory management system. The annual demand pattern and the unit cost of these items are given in the following table. Classify the items in A, B, and C categories according to annual dollar usage.
|
Annual Usage |
Unit Cost |
| Item Type |
in thousands |
in Dollars |
| Item 1 |
10 |
$2.50 |
| Item 2 |
30 |
$1.25 |
| Item 3 |
20 |
$16.00 |
| Item 4 |
10 |
$0.75 |
| Item 5 |
20 |
$3.00 |
| Item 6 |
33 |
$2.50 |
| Item 7 |
60 |
$14.25 |
| Item 8 |
22 |
$10.00 |
| Item 9 |
100 |
$2.75 |
| Item 10 |
500 |
$4.25 |
Using the above data,Item 7 will be classified as:
A) A item
B) B item
C) C item
D) None of the above
16. Using the data of Question 15,Item 6 will be classified as:
A) A item
B) B item
C) C item
D) None of the above
17. Using the data of Question 15,Item 8 will be classified as:
A) A item
B) B item
C) C item
D) None of the above
18. One end itemA requires three component parts:B,C, andD. The bill of material indicates that for each completedA, 3 units ofB, 2 units ofC, and 1 unit ofD are required. Current inventory for the four items is as follows: There are 18As, 40Bs, 50Cs and 35Ds in stock. If the lead time for all items is one week and there are no scheduled receipts for any item, how many units of productA can be delivered to customers at the start of next week (week 2)?
A) 35
B) 31
C)25
D) 13
E) None of the above
Product D has gross requirements, on-hand inventory, and scheduled receipts as indicated in the time-phased inventory status record below. Its lead time is 3 weeks.
| Item D |
1 |
2 |
3 |
4 |
5 |
6 |
| Gross Requirements |
100 |
300 |
100 |
300 |
200 |
50 |
| On Hand/ Scheduled Receipts |
700 |
600 |
300 |
200 |
0 |
0 |
| Net Requirements |
0 |
0 |
0 |
? |
200 |
50 |
| Planned Order Releases |
100 |
? |
50 |
|
|
|
19. The value of entryA is:
A) 100
B) 200
C) 300
D) 700
E) None of the above.
20. The value of entryB is:
A) 50
B) 200
C) 250
D) 300
E) None of the above
21. Use the BOM given in the Word file in the Final Examination Session under Course Content. If the master schedule calls for the production of 50 units ofA, how many units ofE are needed?
A) 50
B) 100
C) 200
D) 400
E) None of the above
22. Use the BOM given in the Word file in the Final Examination Session under Course Content. If the MPS calls for the production of 50 units of itemA, how many units of itemD are needed?
A) 100
B) 150
C) 300
D) 400
E) None of the above
23. Use the BOM given in the Word file in the Final Examination Session under Course Content Now assume that 50 units of itemAare called for by the MPS. On-hand inventory consists of 20 units each of itemsA,B, D andE. What is the net requirement for itemD?
A) 40
B) 100
C) 120
D) 140
E) 160
24. The master production schedule for two products, A and B, is shown below. To manufacture item A, four (4) units of component C are required. To manufacture item B, three (3) units of component C are required. Using this information, determine the gross requirements for component C to start week 1.
| Master Production Schedule: Wk 1 |
| Product A |
30 |
| Product B |
25 |
A) 195
B) 220
C) 155
D) 190
E) None of the above
